I applied in-person. The process took 4 weeks. I interviewed at Morgan Stanley (Palo Alto, CA) in Oct 2011
Interview
The following process took about a month:
1) Interview with Branch Manager
2) (2 days later) Application and resume submission
3) (an hour later) Personality test (situations are presented and I chose one out of four available reactions), Mathematics test (25 questions all about weighted average portfolio returns and compound growth rates), Logic test (Premise is presented with a conclusion, and I used deductive reasoning--aka common sense--to chose the likelihood of the conclusion. The tests take about 3 hours.
4) (2 weeks later) Phone interview to prepare me for writing a business plan- very direct questioning about why I will be successful.
5) (15minutes later) Sent a Business Plan to complete within 10 days. It's about 5 pages of short answer questions wondering how you will gather clients. Sent it back the same day.
6) (2 weeks later) Final group meeting discussing the viability of my Business Plan.
7) (Later that afternoon) Hired, salary presented.
I applied online. The process took 2 weeks. I interviewed at Morgan Stanley in Aug 2010
Interview
The hiring process has 4 parts. First, an online application with the assessment and personality test. Second, a face to face interview with the Business Development Officer to go over the basics like any other interview, but be prepared to explain your business plan for succeeding at MSSB in depth (target markets, professional networks, seminars, groups, etc). If you impress him, the third step is completing an online version of your business plan on a template they send to you via email. After sending the finished product back to corporate, they will see if they are impressed. If so, you have one last meeting face to face with the branch or complex manager and his job is simply to make the offer to you.
Interview questions [1]
Question 1
How many prospects do you expect to acquire each day, week, month, and quarter. Furthermore, what success rate do you imagine or expect in transforming the leads into clients, and finally, how will you make that happen?
The process took 2 months. I interviewed at Morgan Stanley in Mar 2011
Interview
The hiring process is a long one. I applied online in January and after several online assessments, two interviews, a business plan proposal and a background check I received an offer letter in mid-March.
The online assessments were very easy. They are concerned with your sales skills, motivation level and general industry knowledge. Honestly, if you can't figure out what their looking for in the online assessments, you should find a good shovel and practice your ditch digging skills. The business plan I put together was pretty basic and didn't include anything out of the ordinary. The actual interviews were quick and seemed more geared towards influencing me to take the job then providing me with a chance to influence them.
MSSB seems more professional then other financial firms in my town. I interviewed with several others and none of them really compared. The whole process and people involved was far more polished than the competition.
This is a sale job. Sell them on why you're motivated and how you plan be successful, toss in some ethics, and you be good to go.